The Financial Aid Office is committed to providing assistance to qualified students who would otherwise be unable to pursue the attainment of their educational and professional goals. Most, but not all, financial aid is based on financial need as determined by the Free Application for Federal Student Aid (FAFSA). Some types of scholarship aid do not depend on student financial need. “Need” can be defined most simply as the difference between the total cost of attendance and those resources that the student and his or her family are expected to apply toward that cost of attendance.
The Financial Aid Office coordinates federal, state, institutional, and private financial assistance programs. The Financial Aid Office is responsible for ascertaining that all policies and procedures comply with institutional, state, and federal regulations. There are many restrictions on eligibility for most financial aid programs offered at Felbry School of Nursing. Students are expected to be aware of their rights, responsibilities, and the restrictions of the aid programs in which they participate. Several publications that describe students’ rights and responsibilities with regard to aid programs are available in the Financial Aid Office.
Financial aid funds awarded while attending Felbry are intended to supplement the resources students and their families already have available to them. All aid applications undergo a needs analysis calculation to determine the minimum amount of resources they will need to contribute to the total cost of the student’s education. Students should not expect their total financial need to be met by resources available through student financial aid programs.
Students who intend to request financial assistance are expected to arrange an appointment with the Financial Aid Officer as soon as registration has been completed. The Financial Aid Officer is available on a walk-in or appointment basis to provide individual counseling to students who apply for financial aid.
Felbry participates in the following financial programs:
- Federal Pell Grant
- Federal Direct Loan Subsidized and Unsubsidized
- Federal Parent Loan for Undergraduate Students (FPLUS)
Course Loads and Financial Aid Programs
Federal Loan Programs
To be eligible for the Federal Direct Loan Programs, a student must be enrolled at least half time in units related to their program of study. Students enrolled less than half time are not eligible for the Federal Direct Loan programs.
Students must be enrolled in at least 12 credit hours per academic term in their diploma program.
Students must be enrolled in at least 6 credit hours but less than 12 credits per academic term in their diploma program.
Pell Grant Program
To be eligible for the Pell Grant Program, a student may be enrolled full-time of half-time as defined above or may be enrolled as follows:
Student must be enrolled at least 9 credit hours per academic term.
Student must be enrolled in less than half of the workload of the minimum full-time requirement.
Felbry School of Nursing students must meet the following criteria to be eligible for federal or state financial assistance:
Be a U.S. citizen or eligible non-citizen
- Be enrolled in a program that leads to a degree or certificate
- Not be in default on any loan under the Title IV programs
- Not owe a refund on any grant under the Title IV programs
- Demonstrate financial need as determined by the appropriate agency offering the financial assistance
- Make satisfactory progress toward an educational objective (See “Standards of Satisfactory Progress.”)
- Meet Selective Service requirements
- Have a high school diploma or recognized equivalent
Your loan eligibility is directly correlated to your classification as either Dependent or Independent. Here below are the criteria for both classifications: Independent: For the purposes of federal aid, a student is considered independent if he or she meets one or more of the following criteria:
If ANY of the following circumstances apply to you, you are an independent student; you will not have to provide parental information. If NONE of the following circumstances apply to you, you will be asked to provide parental information and you are considered a dependent student unless the financial aid administrator determines that the student is independent on the basis of special circumstances and performs a dependency override..
You are 24 years or older or will be by December 31 of the award year
- You are married
- You will be working on a master’s degree
- You are serving on active duty in the U.S. Armed Forces
- You are a veteran of the U.S. Armed Forces
- You have children, and you provide more than half of their support
- After you turned age 13, both of your parents were deceased
- You have dependents (other than children or your spouse) who live with you, and you provide more than half of their support at the time the FAFSA is completed and through June 30 of the award year.
- You were in foster care since turning age 13 until you reached age 18
- You were a dependent or ward of the court since turning age 13 until you reached age 18
- You are currently or you were in legal guardianship
- You are currently or were an emancipated minor
- You are homeless or you are at risk of being homeless
Students who claim to be independent may be asked to provide documentation to verify their dependency status prior to receiving financial aid. Students who want to be considered independent due to circumstances other than those listed should contact the Financial Aid Officer prior to completing the FAFSA.
Loan Origination Fees:
The loan origination fee is the amount charged for processing and issuing a loan. The current loan origination fee for both subsidized and unsubsidized Federal Direct loans is 1.073%. The current loan origination fee for the FPLUS loan is 4.292%.
Loan Interest Fees:
The loan interest fee is the cost to the student or parent for borrowing and using the loan. The current interest rate on both subsidized and unsubsidized Federal Direct loans is 4.66%. The current interest rate on FPLUS loans is 7.21%.
Most United States citizens and permanent resident students may qualify for federal financial aid programs. In order to qualify, students must complete the Free Application for Federal Student Aid (FAFSA), which provides an in-depth analysis of the financial condition of the student and his or her family. This analysis (done on a yearly basis) determines how much the student/family is expected to contribute toward the cost of education.
This figure is called the “expected family contribution,” or EFC. Parents’ income and asset information is included in the EFC calculation for dependent students. To determine if you are independent from your parents for financial aid, you will need to answer the questions on the FAFSA application.
Students who received financial aid for the previous year should receive a renewal email from the Federal Department of Education sometime in January. Students are encouraged to file their renewal FAFSA applications electronically at www.fafsa.ed.gov.
If you do not receive a Renewal email from the Federal Department of Education or if you did not apply for Financial Aid for the previous year, but wish to apply for the next award year, you should follow the steps below. An award year runs from July 1st – June 30th.
• Complete the Free Application for Federal Student Aid (FAFSA). You may complete the FAFSA online at http://www.fafsa.ed.gov. Regardless of how an applicant completes the renewal FAFSA, applicants should make sure the Institution Code for Felbry 042350 is indicated on their FAFSA or Renewal Form.
• It is the student’s and/or applicant’s responsibility to obtain and file all the forms by the proper deadlines in order to be considered for aid at Felbry. Students selected for verification will have 30 days from the date of notification to turn in all necessary documents.
For entering students, notification of financial aid is given in the form of an estimated award letter shortly after admission.
Determining Financial Need
Financial aid eligibility for need-based aid is determined using the following formula:
Cost of Attendance – Expected Family Contribution = Financial Need
Financial need is the difference between what a family is expected to contribute toward the cost of the education and the actual cost of the education. For example, if the cost of education is $20,000 per year including both tuition and living expenses in the local area, and the family is expected to contribute $5,000, then the student’s need is $15,000.
The aid students receive from all sources of aid (including non-need based aid) may not exceed their cost of attendance.
Many students may choose only to seek aid for the cost of tuition and fees, since their housing, food, and other basic household costs are supported with ongoing family income.
Cost of attendance includes the following items:
|Tuition||$ 16088||$ 19950|
|Fees||$ 1581||$ 1960|
|Books and Supplies||$ 2195||$ 3010|
|Room and Board||$ 9600||$ 9600|
|Transportation||$ 840||$ 840|
|Other Educational Costs||$ 367||$ 552|
Students can meet with the Financial Aid Officer to discuss itemized totals for expenses.
During his or her individual interview with a financial aid officer following completion of the Federal Application for Student Financial Aid (FASFA), each student will be informed of and given a written notification of the amount of financial aid the student and his or her parent can expect to receive from each Title IV program for which the student is eligible. If applicable, Direct loan programs will be separately identified as subsidized or unsubsidized.
Included in the written notice and discussed with the student will be information on how and approximately when the financial aid will be disbursed: through credit into the student’s financial account at the beginning of each payment period. Students will be informed of their right to cancel all or part of a loan disbursement and of the procedures and time frames for doing so.
Felbry will credit the student’s account based on the following schedule of when the student confirmed acceptance of the grant and/or loan(s) amounts for the award year:
- if the school obtains affirmative confirmation, no earlier than30 days before and no later than 30 days after crediting the student’s account;
- if the school does NOT obtain affirmative confirmation, no earlier than 30 days before and no later than 7 days after crediting the student’s account.
If the borrower wishes to cancel all or a portion of his or her loan or grant, he or she must inform the school. A school must return the loan or grant proceeds, cancel the loan or grant, or do both, provided that the school receives the loan cancellation request within the following time frames:
- if the school obtains affirmative confirmation from the student, by the later of the first day of a payment period or 14 days after the date the school notifies the student or parent of his or her right to cancel all or a portion of a loan or grant; or
- if the school does not obtain affirmative confirmation from the student, within 30 days of the date the school notifies the student or parent of his or her right to cancel all or a portion of a loan.
Student Loan Fund Release Policy (Disbursement)
Annual Financial Aid awards will be divided by the number of terms for which the student is enrolled and disbursed by term as long as the student meets the eligibility requirements for the aid.
If all required application documents are received, student loan funds may post to the student’s school account within the first two weeks of the first day of the term. However, U.S. Department of Education regulations require institutions to issue a Federal Student Aid credit balance no later than fourteen (14) days from:
- The date the credit balance occurred on the student’s account, if the balance occurred after the first day of class of a payment period, or
- The first day of classes of the payment period if the credit balance occurred on or before the first day of class of that payment period.
Any questions regarding apparent delay in a credit balance refund after aid has disbursed to the student’s account should be directed to Felbry’s Financial Aid Office.
The U. S. Department of Education requires that students who receive Title IV financial assistance meet minimum standards of academic performance and progress in order to maintain their eligibility for that financial aid. Felbry School of Nursing has incorporated those standards into its own and requires all students to meet the standards of satisfactory academic progress (SAP) identified below.
The SAP policy tells you:
- What cumulative grade-point average you need to maintain;
- How quickly you need to be moving toward graduation (for instance, how many credits you should have successfully completed by the end of each academic term);
- How an incomplete class, withdrawal, repeated class, or transfer of credits from another school affects your satisfactory academic progress;
- How often Felbry will evaluate your progress;
- What will happen if you fail to make satisfactory academic progress when you are evaluated for academic progress;
- Whether you are allowed to appeal Felbry’s decision that you haven’t made satisfactory academic progress (reasons for appeal usually include the death of a member of your family, your illness or injury, or other special circumstances); and
- How you can regain eligibility for federal student aid.
All students in the Practical Nursing and Registered Nursing programs are required to meet the standards of academic performance that are outlined in the sections below and they are evaluated regularly to determine that the standards are met. These standards have multiple components: a minimum cumulative grade point average requirement (CGPA); a minimum successful completion rate based on all credit hours attempted; and, a maximum time frame requirement to successfully complete all required credit hours for the program.
As described below, each student must achieve the minimum CGPA within the maximum time frame established, achieving the required completion rate of 67% at each evaluation point. Failure to meet these standards may result in dismissal from the academic program and in ineligibility to earn the certificate for either the Practical Nursing or Registered Nursing program.
Maximum Time Frame (MTF)
Students who adhere to their assigned class schedules and achieve the minimum passing scores in each of their courses will complete the Practical Nursing program in 58.5 semester credits and the Registering Nursing program in 50 semester credits.
For any student who, for any reason, has not remained on track with his or her studies, the maximum time frame (MTF) to successfully complete the Practical Nursing program is 87.75 semester credits and to complete the Registered Nursing program is 75 semester credits.
The MTF, which is 1.5 times the normal completion time, is computed from the very first credits in which the student enrolled and originally began his or her studies in the program. Any student who does not successfully complete the program within the MTF cannot earn the certificate for either program.
Satisfactory Academic Progress (SAP) Evaluation
Students are evaluated for academic progress at the end of each quarter or semester. The actions below are taken for those students who do not meet the applicable SAP standard.
- Any Title IV-recipient student whose cumulative grade point average (CGPA) is below 2.5 or whose successful completion rate is less than 67% of all credits attempted for the first time will be placed on financial aid warning for one quarter or semester. Non-Title IV students will receive an academic warning.
- The student will have one quarter or semester to raise his or her CGPA to 2.5 or higher and/or his or her completion rate to 67% or better. If the Title IV-recipient student fails to make SAP by the end of the next quarter or semester, the student will lose his or her financial aid eligibility unless he or she successfully appeals the loss of aid.
Financial Aid Probation or Academic Probation:
- Any Title IV-recipient student who fails to earn the minimum CGPA or the required completion rate by the end of the quarter or semester following financial warning will lose his or her eligibility for financial aid. If the student successfully appeals for reinstatement of his or her financial aid eligibility based on mitigating circumstances, the student will be placed on financial aid probation and his or her financial aid eligibility will be reinstated for one payment period.
- Any Non-Title IV student who fails to earn the minimum CGPA or the required completion rate by the end of the quarter or semester following academic warning will be placed on academic probation. These students who have been placed on academic probation may appeal that action based on mitigating circumstances. If the appeal is successful, the student will be removed from probation but must achieve SAP by the end of the following quarter or semester or will be academically dismissed.
- Non-Title IV students and Title IV-recipient students whose appeals were not accepted as well as those Non-Title IV students who chose not to appeal will be placed on academic probation for one quarter or semester. These Title IV-recipient students will not be eligible for financial aid.
- Any student on financial aid probation or academic probation must accept an academic improvement plan prepared by the Program Administrator and comply with the terms and conditions of that plan.
- Any student on financial aid probation or academic probation must meet the required SAP standard at the end of the probationary quarter or semester or must be satisfying all terms and conditions of his or her academic improvement plan. Otherwise, the student will be academically dismissed from the college.
Reestablishing Title IV Eligibility:
A Title IV-recipient student who has been placed on financial aid probation will have his or her financial aid eligibility reinstated upon successful appeal. Any Title IV-recipient student whose appeal was not accepted but who attains the required SAP standard or is in compliance with the academic improvement plan at the end of the probationary quarter or semester will be eligible for reinstatement of his or her financial aid.
Repeated Course Failure:
Any student who fails the same course two times will be academically dismissed from the college.
Any student who has lost financial aid eligibility or has been placed on academic probation for the first time but thinks that there were mitigating circumstances that caused him or her to fail the SAP standard, may file a written appeal with supporting documentation to the Program Administrator who, with the CEO and another school administrator, will make the decision whether to accept the student’s appeal.
The appeal must include narrative explaining how the student’s mitigating circumstances have changed or what steps the student has taken to overcome those circumstances so that he or she is now capable of achieving and maintaining satisfactory academic progress.
If the appeal of a Title IV-recipient student is granted, the student’s eligibility for financial aid will be reinstated and the student will be placed on financial aid probation for one quarter or semester. If a non-Title IV student’s appeal is granted, the student will be removed from probation but must attain SAP by the end of the following quarter or semester or will be academically dismissed.
Any student who has been academically dismissed will not be considered for readmission to the college until six months have passed. The student will have to reapply for admission, satisfy all admissions criteria in effect at the time, satisfy any outstanding financial obligations to the school, and retake any failed classes before proceeding to other courses.
Treatment of Title IV Aid When a Student Withdraws
The law specifies how Felbry College School of Nursing must determine the amount of Title IV program assistance that you earn if you withdraw from school. The Title IV programs that are covered by this law are: Federal Pell Grants, Iraq and Afghanistan Service Grants, TEACH Grants, Direct Loans, Direct PLUS Loans, Federal Supplemental Educational Opportunity Grants (FSEOGs), and Federal Perkins Loans.
Though your aid is posted to your account at the start of each period, you earn the funds as you complete the period. If you withdraw during your payment period or period of enrollment, the amount of Title IV program assistance that you have earned up to that point is determined by a specific formula.
If you received (or Felbry College or your parent received on your behalf) less assistance than the amount that you earned, you may be able to receive those additional funds. If you received more assistance than you earned, the excess funds must be returned by Felbry College and/or you
The amount of assistance that you have earned is determined on a pro rata basis. For example, if you completed 30% of your payment period or period of enrollment, you earn 30% of the assistance you were originally scheduled to receive. Once you have completed more than 60% of the payment period or period of enrollment, you earn all the assistance that you were scheduled to receive for that period.
If you did not receive all of the funds that you earned, you may be due a post-withdrawal disbursement.
If your post-withdrawal disbursement includes loan funds, Felbry College must get your permission before it can disburse them. You may choose to decline some or all of the loan funds so that you don’t incur additional debt.
Felbry College may automatically use all or a portion of your post-withdrawal disbursement of grant funds for tuition, and fees. Felbry College needs your permission to use the post-withdrawal grant disbursement for all other school charges. If you do not give your permission (or if you did not give it during the enrollment process), you will be offered the funds. However, it may be in your best interest to let Felbry College keep the funds to reduce your debt to the school.
There are some Title IV funds that you were scheduled to receive that cannot be disbursed to you once you withdraw because of other eligibility requirements. For example, if you are a first-time student and you have not completed the first 30 days of your program before you withdraw, you will not receive any Direct Loan funds that you would have received had you remained enrolled past the 30th day.
If you receive (or Felbry College or your parent receives on your behalf) excess Title IV program funds that must be returned, Felbry College must return a portion of the excess equal to the lesser of:
- your institutional charges multiplied by the unearned percentage of your funds, or
- the entire amount of excess funds.
Felbry College must return this amount even if it didn’t keep this amount of your Title IV program funds.
If Felbry College is not required to return all of the excess funds, you must return the remaining amount.
Any refund calculated must be returned first to the Title IV programs. Refunds are allocated in the following order:
- Unsubsidized Federal Direct Loan Program
- Subsidized Federal Direct Loan Program
- Federal PLUS Loan Program
- Federal Pell Grant Program
- Federal Supplemental Educational Opportunity Grant (FSEOG) Program
- Any other Title IV program
- Other federal, state, or private student financial aid programs.
Student’s Right to Know:
- Students have the right to know the criteria for continued student eligibility for each type of financial aid awarded.
- Students have the right to know the satisfactory academic progress standards that students must meet to receive financial aid assistance, and the required criteria to re-establish eligibility if a student fails to meet satisfactory academic progress.
- Students have the right to know the method by which financial aid disbursements will be made to the students and the frequency of those disbursements.
- Students have the right to know the terms of any loan received, a sample loan repayment schedule for sample loans, the necessity for paying loans, and the loan exit counseling information the school provides.
- If the student has a loan and the lender transfers (i.e. sells) the loan and the right to receive payments, the student must be sent a notification telling him/her to whom he/she must now make payments.
- Lenders must provide borrowers with a copy of the complete promissory note.
- The student has the right to prepay a loan without penalty. This means that he/she may at any time pay in full the loan balance and any interest due without being charged a penalty by the lender for early payment.
- In borrowing money, the student assumes the responsibility for repaying the loan. If circumstances arise which make it difficult to meet this responsibility, he/she should contact the lender.
- If a parent or student receives a Title IV, HEA Loan, the loan information will be submitted to the National Student Loan Data System (NSLDS) and will be accessible by guaranty agencies, lenders, and schools determined to be authorized users of the data system.
- The student must complete all application forms accurately and submit them on time to the appropriate location.
- The student must provide correct information. The intentional misreporting of information on financial aid application forms is a violation of the law and is considered a criminal offense which could result in indictment under the U.S. Criminal Code.
- The student must return all additional documentation, verification, corrections, and/or new information requested by either the Financial Aid Office or the agency to which an application was submitted.
- The student must notify the Financial Aid Office of any changes to the information used to determine my financial aid award.
- The student must respond to requests for information from the Financial Aid Office.
- The student must agree to review Financial Aid Award Guide on the Financial Aid website and PROWL award messages, and acknowledge the enrollment requirements to receive certain types of financial aid.
- The student must agree to notify the Office of the Registrar, if at any time I stop attending classes and officially take a leave of absence or withdraw from the university. I also understand it is advised to speak with the Financial Aid Office to see if my withdrawal will impact my current aid award.
- The student must agree to notify the Financial Aid Office, if I am, or I become incarcerated while I am in attendance at Felbry College School of Nursing and receiving financial aid.
- The student must notify the Financial Aid Office, if the student (or their parent who has borrowed from the Federal Parent (PLUS loan program) is convicted of or pled guilty or no-contest to a crime involving fraud in obtaining federal student aid funds.
- The student agree to notify the Financial Aid Office, if they (or their parent who has borrowed from the Federal Parent (PLUS loan program) are subject to a lien for a debt owed to the United States.
- The student must agree to use federal student aid funds received during the award year solely for educational expenses related to attendance during that year.
Financial Aid Restrictions
A student may be restricted or lose eligibility for financial aid if they
- are in default of a federal student loan
- don’t maintain satisfactory academic progress in school
- are convicted of a drug offense
- was convicted of, or pled no contest or guilty to a crime involving fraud to obtain federal student aid funds
- have property subject to a judgment lien
- accidentally received more federal student loan or grant money than was supposed to